CareDx, Inc. (CDNA) Expected to Announce Quarterly Sales of $12.01 Million

Analysts expect CareDx, Inc. (NASDAQ:CDNA) to report $12.01 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for CareDx’s earnings, with estimates ranging from $11.63 million to $12.39 million. CareDx posted sales of $10.86 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The business is scheduled to report its next quarterly earnings results on Friday, April 20th.

On average, analysts expect that CareDx will report full year sales of $12.01 million for the current year, with estimates ranging from $46.91 million to $48.29 million. For the next year, analysts anticipate that the company will post sales of $61.92 million per share, with estimates ranging from $59.80 million to $63.80 million. Zacks’ sales averages are an average based on a survey of analysts that follow CareDx.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, November 9th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.02. The business had revenue of $12.19 million during the quarter, compared to analyst estimates of $12.05 million. CareDx had a negative net margin of 84.14% and a negative return on equity of 117.32%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis.

Several equities research analysts recently commented on CDNA shares. Zacks Investment Research downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Craig Hallum restated a “buy” rating and issued a $10.00 price target (up from $4.00) on shares of CareDx in a research report on Monday, October 9th. Raymond James Financial, Inc. upgraded shares of CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, September 27th. ValuEngine upgraded shares of CareDx from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $7.00 price target (up from $3.00) on shares of CareDx in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $6.69.

In other CareDx news, major shareholder Neil Gagnon acquired 21,448 shares of CareDx stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $2.77 per share, with a total value of $59,410.96. Following the acquisition, the insider now owns 903,731 shares of the company’s stock, valued at $2,503,334.87. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 75,030 shares of company stock valued at $226,758 over the last ninety days. 5.40% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CDNA. Gagnon Securities LLC grew its holdings in CareDx by 2.9% during the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock valued at $2,314,000 after purchasing an additional 57,954 shares during the period. Royce & Associates LP increased its holdings in shares of CareDx by 39.3% in the second quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock valued at $814,000 after purchasing an additional 206,815 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in shares of CareDx in the second quarter valued at $212,000. Trellus Management Company LLC acquired a new position in shares of CareDx in the third quarter valued at $100,000. Finally, Thompson Davis & CO. Inc. increased its holdings in shares of CareDx by 3,294.9% in the third quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock valued at $754,000 after purchasing an additional 197,692 shares during the last quarter. 27.92% of the stock is owned by hedge funds and other institutional investors.

Shares of CareDx (NASDAQ CDNA) traded up $0.33 during trading hours on Monday, hitting $5.82. 872,500 shares of the company traded hands, compared to its average volume of 352,883. CareDx has a fifty-two week low of $0.76 and a fifty-two week high of $6.69.

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About CareDx

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

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